If you are sick and tired of the usual Twitter Inc (NYSE:TWTR) limitation of 140 characters when composing a new Tweet, then you will love the news coming from Re/code this afternoon. According to reports from the tech news site, Twitter is preparing to get rid of the 140 character limit, allowing tweets to be as long as 10,000 characters. The changes are reportly being prepared for a rollout before the end of March, and it is possible that the actual character limit may fluctuate before the company rolls out the final product, in order for them to test different limits.
While such changes by Twitter Inc (NYSE:TWTR) will certainly please many members who currently feel the need to short-hand their messages, other Twitter users may get annoyed by the change, which goes against the original purpose of the social network.
The stock is down 2.48% or $0.56 following the news, hitting $22 per share. Approximately 13.53 million shares traded hands. TWTR shares have declined 38.41% since June 1, 2015 and are currently downtrending. It has underperformed the S&P500 by 33.72%.
From a total of 29 analysts covering Twitter (NYSE:TWTR) stock, 13 rate it a “Buy”, 2 a “Sell”, and 14 a “Hold”. This means that 45% of the ratings are positive. The highest target price is $56 while the lowest target price is $22. The mean of all analyst targets is $34.39 which is 56.32% above today’s ($22) stock price. Twitter was the topic of 45 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Credit Agricole initiated shares on December 11 with a “Underperform” rating. Morgan Stanley maintained shares with a”Underweight” rating and a $22 target share price in their report from an October 28. UBS maintained TWTR stock in a recent report from October 28 with a “Buy” rating. Barclays Capital maintained the rating on October 28. Barclays Capital has a “Equal-Weight” rating and a $33 price target on shares. Finally, RBC Capital Markets maintained the stock with a “Sector Perform” rating in a report they issued on an October 28.
The institutional sentiment decreased to 1.07 in Q2 2015. It’s down 0.19, from 1.26 in 2015Q2. The ratio dropped, as 102 funds sold all their Twitter Inc shares they owned while 129 reduced their positions. 56 funds bought stakes while 191 increased their total positions. Institutions now own 269.03 million shares which is 10.40% less than the previous share count of 300.24 million in 2015Q2.
Institutional Venture Management Xii Llc holds 100% of its total portfolio in Twitter Inc, equating to 418,115 shares. Rizvi Traverse Management Llc owns 2.80 million shares representing 100% of their total US portfolio. Moreover, Ah Equity Partners Iii L.L.C. has 69.57% of their total portfolio invested in the company, equating to 1,202 shares. The California-based Kpcb Dgf Associates Llc has a total of 28.35% of their portfolio invested in the stock. Bain Capital Venture Investors Llc, a Massachusetts-based fund reported 817,155 shares owned.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. The company has a market cap of $15.44 billion. The Firm offers services and products for users, advertisers, developers and platform and data partners. It currently has negative earnings. Products and services for users enables a way for people to create, distribute and discover content, which enables a user on Twitter to create a tweet and a user to follow other users.